$29$ Reimbursed S$.$ Rey for business automobile mileage $(600$ miles at $$0\mathrm{.}32$ per mile$).$

$31$ S$.$ Rey withdrew $$1,500$ cash from the company for personal use.

The following additional facts are collected for use in making adjusting entries prior to preparing

financial statements for the company's first three months.

a$.$ The December $31$ inventory count of computer supplies shows $$580$ still available.

b$.$ Three months have expired since the $12-$month insurance premium was paid in advance.

c$.$ As of December $31,$ Lyn Addie has not been paid for four days of work at $$125$ per day.

d$.$ The computer system, acquired on October $1,$ is expected to have a four$-$year life with no

salvage value.

e$.$ The office equipment, acquired on October $1,$ is expected to have a five$-$year life with no

salvage value.

f$.$ Three of the four months' prepaid rent have expired.

Required:

Prepare journal entries to record each of the December transactions and events for Business

Solutions.

$2-$a$.$ Prepare adjusting entries to reflect a through $f.$

$2-$b$.$ Post the journal entries to record each of the December transactions, adjusting entries to the

accounts in the ledger.

Prepare an adjusted trial balance as of December $31,2019.$

Prepare an income statement for the three months ended December $31,2019.$

Prepare a statement of owner's equity for the three months ended December $31,2019.$

Prepare a balance sheet as of December $31,2019.$